Until reality sets in, we'll settle for this report about Mitsubishi building what can only be described as one super plug-in hybrid. The Japanese automaker, per UK's Autocar, is working on a version of the Lancer Evolution that would take on the Nissan GT-R.

Specifically, Autocar, citing what it says are "highly placed Mitsubishi executives," says the PHEV would pair a 2.0-liter gas engine with two 80-horsepower electric motors to provide an awfully impressive 500 horsepower along with fuel economy of 150 miles per gallon (per the more lenient European driving cycle) and an all-electric driving range of as many as 40 miles.

Mitsubishi would use some of the technology employed in the MiEV Evolution II plug-in that raced at Pikes Peak this year, and while we don't think it'll look quite like that car (pictured above), we can dream a bit. Remaining an issue for Mitsubishi plug-ins, car execs say, is the continued lack of consensus on a fast-charging standard in the US, as Mitsubishi and Nissan continue to push for the CHAdeMO standard while US and European automakers bang the drum for the so-called SAE/"combo" fast-charging standard.

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